The suspect in the university shooting and the murder of an MIT professor entered the US via the scheme.
Nuno F Gomes Loureiro, 47, a nuclear science and engineering professor was shot "multiple times" on Monday.
Under the so-called pre-packaged Chapter 11 process, the main maker of its devices will take ownership of the firm.
The deal would see universities cap foreign admissions, restrict protests and adopt a binary definition of gender.
MIT graduate Karenna Groff, who was named Woman of the Year by the NCAA in 2022, was among the victims.
MIT says intake of some minority groups has fallen from 25% to 16% in one year after a Supreme Court decision.
Dozens of student protesters have been arrested at Columbia, Yale and New York University in recent days.
Jewish students have called out school administrations for failing to protect them since the start of the Israel-Hamas war.
Chloe Smith will be studying computer science at MIT near Boston on a $84,000 a year scholarship.
